Mirae Asset Global Investments Co. Ltd. Takes $1.65 Million Position in Smurfit Westrock Ltd (NYSE:SW)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Smurfit Westrock Ltd (NYSE:SW) during the 3rd quarter, according to its most recent filing with the SEC. The fund bought 32,906 shares of the company’s stock, valued at approximately $1,648,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SW. Louisiana State Employees Retirement System acquired a new stake in Smurfit Westrock in the 3rd quarter valued at $1,374,000. Allworth Financial LP bought a new stake in shares of Smurfit Westrock in the 3rd quarter worth about $82,000. Cromwell Holdings LLC acquired a new stake in shares of Smurfit Westrock during the 3rd quarter worth about $42,000. Canal Capital Management LLC bought a new position in Smurfit Westrock during the 3rd quarter valued at about $1,412,000. Finally, Mainstay Capital Management LLC ADV acquired a new position in Smurfit Westrock in the third quarter valued at about $1,798,000. Institutional investors own 83.38% of the company’s stock.

Smurfit Westrock Trading Up 2.9 %

SW stock opened at $51.50 on Friday. Smurfit Westrock Ltd has a twelve month low of $38.55 and a twelve month high of $52.76. The company has a market capitalization of $26.75 billion, a P/E ratio of 56.59 and a beta of 1.05. The business’s fifty day moving average price is $46.40.

Smurfit Westrock (NYSE:SW) last released its earnings results on Tuesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.06). Smurfit Westrock had a net margin of 1.36% and a return on equity of 7.13%. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $7.91 billion. On average, analysts predict that Smurfit Westrock Ltd will post 2.6 EPS for the current year.

Smurfit Westrock Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Friday, November 15th will be issued a $0.3025 dividend. The ex-dividend date is Friday, November 15th. This represents a $1.21 annualized dividend and a yield of 2.35%. Smurfit Westrock’s dividend payout ratio is currently 132.97%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Smurfit Westrock from $66.00 to $65.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $52.00 price objective on shares of Smurfit Westrock in a research report on Monday, July 29th. Morgan Stanley started coverage on Smurfit Westrock in a report on Friday, July 19th. They set an “overweight” rating and a $60.00 target price on the stock. Citigroup began coverage on Smurfit Westrock in a report on Wednesday, October 23rd. They issued a “buy” rating and a $57.00 price target for the company. Finally, Royal Bank of Canada raised shares of Smurfit Westrock from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $52.00 to $58.00 in a report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.43.

Smurfit Westrock Profile

Smurfit Westrock Plc, together with its subsidiaries, manufactures, distributes, and sells containerboard, corrugated containers, and other paper-based packaging products in Ireland and internationally. The company produces containerboard that it converts into corrugated containers or sells to third parties, as well as produces other types of paper, such as consumer packaging board, sack paper, graphic paper, solid board and graphic board, and other paper-based packaging products, such as consumer packaging, solid board packaging, paper sacks, and other packaging products, including bag-in-box.